THE CITY OF MONTICELLO, IOWA
RESOLUTION #12-49
Resolution approving redirection of certain amounts of the unspent proceeds of the 2011 General Obligation Corporate Purpose Bonds to other Public Purposes, specifically the installation of new outdoor warning sirens.
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
WHEREAS, the City of Monticello is duly incorporated, organized and exists under and by virtue of the laws and Constitution of the State of Iowa; and
WHEREAS, the City of Monticello is in need of funds to pay costs related to the installation of new outdoor warning sirens, an essential corporate purposes, and it is deemed necessary and advisable that the authorization to redirect certain of the unspent bond proceeds from the 2011 General Obligation Corporate Purpose Bonds, in the maximum amounts of $14,500 from the sums set aside for the Riddle Building demolition project and $52,000 from those set aside for the PW Building construction project, respectively, be redirected to the Warning Siren project, and
WHEREAS, pursuant to the Iowa Code, a notice was published and a public hearing held before the Council’s consideration of this redirection of funds, and
WHEREAS, the Council notes that no written or oral objections to the redirection were received and finds that the redirection of funds is appropriate and in the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MONTICELLO, IOWA, that the redirection of funds from the 2011 General Obligation Corporate Purpose Bonds, in the maximum amounts of $14,500 from the sums set aside for the Riddle Building demolition project and $52,000 from those set aside for the PW Building construction project, respectively, is hereby approved, and the City Clerk is directed to take necessary steps to see to the approved redirection of funds.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 2nd day of April, 2012.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, City Clerk